Gold futures climb Rs 121 as speculators widen position

Gold prices were up by Rs 121 to Rs 29,141 per 10 grams in futures trade today as speculators raised their bets even as the precious metals weakened overseas.
At the Multi Commodity Exchange, gold for delivery in April moved up by Rs 121, or 0.42 per cent, to Rs 29,141 per 10 grams in a business turnover of 675 lots.
The metal for delivery in far-month June was trading higher by Rs 115, or 0.40 per cent, to Rs 29,164 per 10 grams in a turnover of 54 lots.
Analysts said widening of positions by participants mainly supported the upside in gold prices at futures trade here but a weak trend overseas, capped the gains.

Meanwhile, gold fell 0.11 per cent to USD 1,233 an ounce in Singapore.